Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) traded up 7.2% on Thursday . The stock traded as high as $28.02 and last traded at $27.97. 1,232,642 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 3,756,609 shares. The stock had previously closed at $26.08.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Maxim Group assumed coverage on Galaxy Digital in a report on Thursday, July 31st. They issued a "buy" rating and a $40.00 price target for the company. Benchmark raised their price objective on Galaxy Digital from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Galaxy Digital from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Piper Sandler raised their price objective on Galaxy Digital from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Jefferies Financial Group assumed coverage on Galaxy Digital in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $35.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Galaxy Digital has a consensus rating of "Buy" and an average price target of $35.63.
Read Our Latest Stock Report on Galaxy Digital
Galaxy Digital Price Performance
The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average is $26.03.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The business had revenue of $8.66 billion during the quarter, compared to analyst estimates of $13.11 billion.
Insider Transactions at Galaxy Digital
In other news, Director Richard Tavoso sold 50,000 shares of Galaxy Digital stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $28.28, for a total value of $1,414,000.00. Following the sale, the director directly owned 400,000 shares of the company's stock, valued at $11,312,000. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Erin Elizabeth Brown sold 350,000 shares of Galaxy Digital stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the completion of the sale, the chief operating officer directly owned 198,088 shares in the company, valued at $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 433,333 shares of company stock valued at $11,851,323 over the last ninety days.
Hedge Funds Weigh In On Galaxy Digital
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC acquired a new position in Galaxy Digital during the second quarter worth $26,000. Manchester Capital Management LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at $32,000. Centerpoint Advisors LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at $33,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at $34,000. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at $37,000.
Galaxy Digital Company Profile
(
Get Free Report)
Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.
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